Forecasts for growth in US oil production and reserves have risen dramatically, thanks to light tight oil. Operators, investors, regulators and politicians are pondering light tight oil's potential and the likely implications for global oil supply and demand

Oepc cannot afford to let oil prices sink but it can scarcely afford to let them rise any higher. It is a conundrum for the group, which, for all the cash flowing its way now, finds itself in a tricky spot.